CVB Financial (CVBF) Set to Announce Earnings on Thursday

CVB Financial (NASDAQ:CVBF) is scheduled to be announcing its earnings results before the market opens on Thursday, October 24th. Analysts expect the company to announce earnings of $0.35 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

CVB Financial (NASDAQ:CVBF) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.02. The company had revenue of $125.27 million for the quarter, compared to analyst estimates of $126.86 million. CVB Financial had a net margin of 29.58% and a return on equity of 10.41%. The firm’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.40 EPS. On average, analysts expect CVB Financial to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

CVB Financial Stock Performance

Shares of NASDAQ:CVBF opened at $19.68 on Thursday. CVB Financial has a 52-week low of $14.62 and a 52-week high of $21.77. The company has a fifty day moving average of $17.77 and a 200-day moving average of $17.34. The company has a market capitalization of $2.75 billion, a PE ratio of 12.95 and a beta of 0.45.

CVB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 14th. Stockholders of record on Monday, September 30th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend was Monday, September 30th. CVB Financial’s dividend payout ratio (DPR) is currently 52.63%.

Analysts Set New Price Targets

CVBF has been the subject of a number of recent research reports. Keefe, Bruyette & Woods upgraded CVB Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $20.00 to $22.00 in a report on Wednesday, October 2nd. Wedbush dropped their target price on shares of CVB Financial from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Finally, Stephens upped their price target on CVB Financial from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, CVB Financial has an average rating of “Hold” and an average price target of $20.25.

About CVB Financial

CVB Financial Corp. operates as a bank holding company for Citizens Business Bank, a state-chartered bank that provides banking and financial services to small to mid-sized businesses and individuals. It offers checking, savings, money market, and time certificates of deposit products for business and personal accounts; and serves as a federal tax depository for business customers.